Zscaler, Inc. (NASDAQ:ZS) Holdings Lifted by HighTower Advisors LLC

HighTower Advisors LLC lifted its stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 4.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 64,574 shares of the company's stock after acquiring an additional 2,520 shares during the quarter. HighTower Advisors LLC's holdings in Zscaler were worth $11,064,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Quest Partners LLC purchased a new position in Zscaler in the 2nd quarter worth approximately $28,000. True Wealth Design LLC raised its holdings in shares of Zscaler by 18,500.0% during the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company's stock worth $32,000 after acquiring an additional 185 shares in the last quarter. Asset Dedication LLC raised its holdings in shares of Zscaler by 436.8% during the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company's stock worth $39,000 after acquiring an additional 166 shares in the last quarter. American Capital Advisory LLC purchased a new stake in shares of Zscaler during the 2nd quarter worth approximately $50,000. Finally, Quarry LP raised its holdings in shares of Zscaler by 613.0% during the 2nd quarter. Quarry LP now owns 385 shares of the company's stock worth $74,000 after acquiring an additional 331 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Michael J. Rich sold 4,813 shares of the company's stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $824,370.64. Following the sale, the insider now directly owns 103,259 shares of the company's stock, valued at approximately $17,686,201.52. This represents a 4.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Robert Schlossman sold 1,435 shares of the company's stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total value of $260,739.50. Following the sale, the insider now directly owns 105,806 shares in the company, valued at approximately $19,224,950.20. This represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,502 shares of company stock worth $5,256,651 in the last 90 days. 18.10% of the stock is owned by company insiders.

Zscaler Trading Up 3.1 %

Shares of NASDAQ ZS traded up $6.38 on Friday, reaching $211.99. 2,457,077 shares of the company traded hands, compared to its average volume of 2,136,938. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $259.61. The company has a 50 day moving average of $193.47 and a 200 day moving average of $185.71. The stock has a market capitalization of $32.52 billion, a PE ratio of -847.96 and a beta of 0.82.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its earnings results on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.14. Zscaler had a negative return on equity of 0.80% and a negative net margin of 1.58%. The business had revenue of $628.00 million during the quarter, compared to analysts' expectations of $605.51 million. During the same quarter in the previous year, the business earned ($0.18) EPS. The company's revenue for the quarter was up 26.4% on a year-over-year basis. As a group, research analysts expect that Zscaler, Inc. will post -0.31 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on ZS shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $240.00 price objective on shares of Zscaler in a research report on Tuesday, December 3rd. Rosenblatt Securities reissued a "neutral" rating and set a $190.00 price target on shares of Zscaler in a research report on Wednesday, September 4th. Citigroup increased their price target on Zscaler from $230.00 to $235.00 and gave the stock a "buy" rating in a research report on Wednesday. Canaccord Genuity Group increased their price target on Zscaler from $220.00 to $230.00 and gave the stock a "buy" rating in a research report on Tuesday, December 3rd. Finally, Susquehanna increased their price target on Zscaler from $210.00 to $225.00 and gave the company a "positive" rating in a research note on Tuesday, December 3rd. Eleven investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $224.84.

Zscaler Profile

Zscaler, Inc operates as a cloud security company worldwide. The company offers Zscaler Internet Access solution that provides users, workloads, IoT, and OT devices secure access to externally managed applications, including software-as-a-service (SaaS) applications and internet destinations; and Zscaler Private Access solution, which is designed to provide access to managed applications hosted internally in data centers, and private or public clouds.